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drat Bananas posted:http://distractify.com/beth-buczynski/smart-things-to-do-at-30/?ts_pid=2 (lovely clickbait listicle, sorry) Wow, that whole page just makes me want to puke.   
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Apr 21, 2015 06:59
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reddit posted:
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Apr 21, 2015 11:27
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His dream job pays $12,000 per year. What the hell?
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Apr 21, 2015 11:40
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quote:Other ideas included investing in a house that we could sell later for profit and use that money to pay down the loans. There's no  big enough, and I've seen some pretty big
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Apr 21, 2015 11:41
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KYOON GRIFFEY JR posted:His dream job pays $12,000 per year. No, it's a reduction of 12k down to 38k. My true dream job pays many millions of dollars for whatever it is I dream of doing.
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Apr 21, 2015 11:52
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SpelledBackwards posted:No, it's a reduction of 12k down to 38k. Man, that's not great but it's significantly better than my first misinterpretation.
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Apr 21, 2015 12:04
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The story gets repeated pretty often, but do you think at some point people will stop getting stupidly overpriced educations for jobs that have crap pay? I mean I had some idea of what my eventual real world oh was going to be. Doesn't take a genius to compare income vs crushing debt. Is the mentality that some people don't want to consider that and treat college as a higher mission no matter the cost?
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Apr 21, 2015 12:20
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dietcokefiend posted:The story gets repeated pretty often, but do you think at some point people will stop getting stupidly overpriced educations for jobs that have crap pay?
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Apr 21, 2015 12:29
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dietcokefiend posted:The story gets repeated pretty often, but do you think at some point people will stop getting stupidly overpriced educations for jobs that have crap pay? No, indentured servitude is a solid business model.
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Apr 21, 2015 13:03
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Kids are being sold the "do whatever you want and everything will work out" dream at probably the most important crossroads of their life to date. It was tenable when college cost under $1000 a semester, but at $20,000 a year or more, there should be more thought involved. There's a lot of blame to go around, from myopic students to greedy banks, but at the end of the day it's just the old capitalist story of some people chasing dreams and others chasing money.
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Apr 21, 2015 13:28
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How much do you want to bet that his dream job has something to do with videogames?
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Apr 21, 2015 14:21
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Breetai posted:How much do you want to bet that his dream job has something to do with videogames? If he has to move to a remote place, I'm willing to bet the dream job is tree hugging related. Had an ex like that, and Starting pay as a Park Ranger was in the low-mid 30k range when she was applying for jobs.
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Apr 21, 2015 14:25
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http://www.reddit.com/r/personalfinance/comments/339qp5/i_28m_just_absolutely_broke_my_wifes_heart_by/ "Hey guys we have $1000 in savings, should we empty our retirement accounts to pay 27k for a down payment on a home that needs 50k in rennovations just to be livable?"
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Apr 21, 2015 14:40
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Not a Children posted:Kids are being sold the "do whatever you want and everything will work out" dream at probably the most important crossroads of their life to date. It was tenable when college cost under $1000 a semester, but at $20,000 a year or more, there should be more thought involved. There's a lot of blame to go around, from myopic students to greedy banks, but at the end of the day it's just the old capitalist story of some people chasing dreams and others chasing money. Oh let's not just blame the capitalists. Well-intended politicians did plenty to cause this mess by not understanding the basic economics of what happens when you make an unlimited pool of money available to pay for something via federal guarantees and regulations. Colleges can hardy be blamed for jacking up tuition to get their slice of that juicy pie, nor can banks for doing what banks exist to do. And why offer a quality education relevant to tomorrow's needed skills when you can lure chumps in to take courses that cost almost nothing to teach (women's studies, Klingon, cinema) and charge anything you want? The moral: Always be wary when politicians try to make something affordable for everyone. The laws of economics can only be avoided for a short time before, like gravity, they bring everything crashing back down. See also: housing bubble. Coming soon: healthcare!
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Apr 21, 2015 14:47
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Not a Children posted:Kids are being sold the "do whatever you want and everything will work out" dream at probably the most important crossroads of their life to date. My wife bought into this hard. I hadn't really experienced someone with really successful boomer parents before, she just thought everything would fall into place and she would have the same life her parents had.
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Apr 21, 2015 15:23
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High Lord Elbow posted:Oh let's not just blame the capitalists. Well-intended politicians did plenty to cause this mess by not understanding the basic economics of what happens when you make an unlimited pool of money available to pay for something via federal guarantees and regulations. Most of the real debt catastrophes seem to come from indecisive people who bounce between several majors instead of just picking something and getting out with a degree on time.
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Apr 21, 2015 15:33
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High Lord Elbow posted:Oh let's not just blame the capitalists. Well-intended politicians did plenty to cause this mess by not understanding the basic economics of what happens when you make an unlimited pool of money available to pay for something via federal guarantees and regulations. But why does it cost so much more. Increased enrollment/demand shouldn't have increased prices unless the cost to enroll every additional student outweighed the additional tuition paid. More students should make college cheaper, not more expensive. All I can figure is cheap student loan money meant schools didn't have to become more efficient or try to compete on cost, instead competing on who had the biggest dining halls and most impressive faculties. Similar to airlines prior to deregulation. I was lucky to go to a state school where I could afford tuition on a minimum wage job. gently caress, they didn't even take credit cards - you had to write a check for your credits. Still paying back loans on my Masters though, so I can't be too smug.
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Apr 21, 2015 15:39
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Krispy Kareem posted:But why does it cost so much more. Increased enrollment/demand shouldn't have increased prices unless the cost to enroll every additional student outweighed the additional tuition paid. More students should make college cheaper, not more expensive. All I can figure is cheap student loan money meant schools didn't have to become more efficient or try to compete on cost, instead competing on who had the biggest dining halls and most impressive faculties. Similar to airlines prior to deregulation. You've answered your question. Schools can keep raising tuition rates because there is no incentive not to with government guaranteed student loans. nickutz fucked around with this message at 15:55 on Apr 21, 2015 |
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Apr 21, 2015 15:53
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nickutz posted:You've answered your question. unintended_consequences.txt The funny part is going to be when that money runs out since it's been decades since many of these universities have had to cut budgets. Oh, the wails we will hear. Similar to the federal government trying to cut budgets by 5% during the sequester.
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Apr 21, 2015 16:05
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High Lord Elbow posted:The moral: Always be wary when politicians try to make something affordable for everyone. The laws of economics can only be avoided for a short time before, like gravity, they bring everything crashing back down.  Being able to afford to go to the doctor and/or not end up homeless due to getting cancer is not on the level with owning a McMansion or going to some university out of state with an outrageously expensive campus.
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Apr 21, 2015 16:22
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Nail Rat posted:
He might have meant that now that everyone has a mandate to buy health insurance, politicians will try to make buying ACA mandate worthy insurance cheaper. This relates to the other two because everyone needs a place to live so they don't die from exposure, and a college education so they can work at Starbucks. Maybe. 
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Apr 21, 2015 16:25
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Krispy Kareem posted:unintended_consequences.txt  You mean we can't keep building newer, fancier buildings for student athletes? Nail Rat posted:
Haifisch fucked around with this message at 16:30 on Apr 21, 2015 |
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Apr 21, 2015 16:26
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To me, school/homes are something that should be affordable but have spiralled out of control because people see them an investment. "Oh I'm going to put $X into school/house and get $Y when I'm done!" Health care doesn't really work that way, unless you're putting money into experiments that might turn you into some sort of super athlete. But that's more science than health care, really.
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Apr 21, 2015 16:32
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Yeah that is a completely ridiculous comparison. Healthcare should be a basic human right.
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Apr 21, 2015 16:36
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triplexpac posted:Health care doesn't really work that way, unless you're putting money into experiments that might turn you into some sort of super athlete. But that's more science than health care, really. Does this exist? I've got 2 kids and I'm willing to do whatever.
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Apr 21, 2015 16:44
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Haifisch posted:
Healthcare spending is similar to college though in that neither industry had any real incentive to control costs. For the last 20 years Big Pharm kept marketing drugs you probably didn't need and doctors ordered too many tests and hospitals charged too much because the insured consumer didn't see or feel the cost. Employers ate a lot of those expenses and in the last decade slowed wage increased in part because of increased healthcare costs. It was only in the last 5 or so years that all those increases really started being felt by insured consumers. So for education it was cheap money and for healthcare it was cheap drugs and services (which just seemed cheap as long as your insurance was paying for everything).
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Apr 21, 2015 16:45
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I have a friend who's convinced that he can take out a ton of student loan debt to get through college, then flee to Europe (where he has someone there (in Sweden I think? not sure) ready to marry him and therefore give him an easy path to citizenship I guess?) and "they can't do anything or even find you so it just goes away." Now this sounds incredibly dumb to me, but pointing out that that's probably not true just got a anecdote about some guy who did it that they found on reddit or something. Any specifics as to why this is a very bad loving idea? Thanks 
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Apr 21, 2015 16:49
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I took an undergrad business degree. The dean told us that, surprise, there are only two colleges at that university that run at a surplus. Only the business school and the law school take in more from donations/grants/tuition than they spend. Hitting it big as a dance/journalism/anthropology major doesn't mean that you'll be able to afford an 8 figure endowment towards your alma mater. College sports is bad with money. Mens basketball and football are the "profit" sports that subsidize all the other money-losers, but even then, ~20ish of the US universities turn a profit on athletics. The rest are subsidized through student fees. So next time you're rooting for your favorite college team, remember that the entire student body is taking out student loans so we all can enjoy the game. The coaches are earning millions, the athletes aren't being paid, and their professors might be helping them cheat their way through the degree (looking at you, UNC and probably a bunch of others). At least the track team or swim team people on athletic scholarships might be getting a good education
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Apr 21, 2015 16:51
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Krispy Kareem posted:unintended_consequences.txt That's not really true at all; even if tuition revenues are growing, states have been slashing funds allocated to public schools for quite a while (which, in turn, places even more upward pressure on tuition rates).
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Apr 21, 2015 16:57
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Parallel Paraplegic posted:I have a friend who's convinced that he can take out a ton of student loan debt to get through college, then flee to Europe (where he has someone there (in Sweden I think? not sure) ready to marry him and therefore give him an easy path to citizenship I guess?) and "they can't do anything or even find you so it just goes away."
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Apr 21, 2015 17:11
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Haifisch posted:Even if his plan magically works and they somehow don't find him(despite the paper trail left by him becoming a Swedish citizen and losing his American citizenship), I hope there's no reason he'd ever want to come back to the US. Like friends or family, or even just taking a vacation. I don't think he'd have a very fun time trying to reenter the country when he's being hunted fown for student loan debt. What would happen though, if he came back to the USA? It's not like they can throw him in some debtor's prison or something. And I don't think people are exactly extradited over defaulted student loans. As long as he didn't need to conduct any financial business in the states he might be ok. Same as if he lived here and just stopped paying. One potential issue could be if the countries' financial systems share information and he gets blacklisted internationally or something.
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Apr 21, 2015 17:23
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Stutes posted:That's not really true at all; even if tuition revenues are growing, states have been slashing funds allocated to public schools for quite a while (which, in turn, places even more upward pressure on tuition rates). That just goes along with my healthcare comparison that these costs are increasingly being passed on to the end user. Every year the Board of Regents gets together and increases tuition because more money is needed. But the question is why more money is needed. My state's largest university is now paying it's football team's Defensive Coordinator 1.3 million dollars a year. That school probably makes a profit off it's sports team, but other similar schools' defensive coordinators are going to look at that and think, "I should get a raise." Now magnify that by every big expense a college has, like new student centers or obscure academic chairs. So costs go up across the board and next year the Board of Regents is announcing another 3% increase because as long as student loans are cheap they can pass along the costs regardless of state budget cuts. Until they can't, at which point an increase in costs results in a decrease in demand like every properly functioning market.
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Apr 21, 2015 17:25
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Thesaurus posted:What would happen though, if he came back to the USA? It's not like they can throw him in some debtor's prison or something. And I don't think people are exactly extradited over defaulted student loans. Well since he has made a record of his intent to defraud the lenders I would say he has a very good chance of extradition.
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Apr 21, 2015 17:27
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Not being able to pay your loans due to hardship is one thing. Formulating and executing a plan to take out a loan with no intention of repaying it and then fleeing to an outside jurisdiction is outright fraud, and there's a good chance they'll see action a lot stronger than collections calls if the bank (or worse, the government) picks up on it. e:f,b
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Apr 21, 2015 17:28
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Not a Children posted:Not being able to pay your loans due to hardship is one thing. Formulating and executing a plan to take out a loan with no intention of repaying it and then fleeing to an outside jurisdiction is outright fraud, and there's a good chance they'll see action a lot stronger than collections calls if the bank (or worse, the government) picks up on it. Thanks guys, this will probably do it
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Apr 21, 2015 17:31
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Just send him this: https://www.law.cornell.edu/uscode/text/18/1344
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Apr 21, 2015 17:33
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Hans Gruber posted:when you steal $600, you can just disappear. When you steal 600 million, they will find you, unless they think you're already dead.
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Apr 21, 2015 17:36
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To be fair it isn't documented in any sort of identifying way, and good luck bringing up a legal case with the only piece of material evidence being a post from Parallel Paraplegic in Bad With Money: I feel a pang of guilt whenever I get into my pre-owned 2014 Sorrento
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Apr 21, 2015 17:36
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You're right, it's a good plan.
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Apr 21, 2015 17:38
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Parallel Paraplegic posted:I have a friend who's convinced that he can take out a ton of student loan debt to get through college, then flee to Europe (where he has someone there (in Sweden I think? not sure) ready to marry him and therefore give him an easy path to citizenship I guess?) and "they can't do anything or even find you so it just goes away."
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Apr 21, 2015 17:49
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